SEBI

Board interlock restrictions shall apply to existing IDs too

SEBI - Sundaram Finance (applicant company) on 28th August, 2018 requested SEBI to issue informal guidance for getting clarity/better understanding of the wording use in new Regulation 17 (1A) and Regulation 25 (1) both of which use the word 'continue' which is absent in Reg.16(1)(b)(viii)....

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Effectiveness of Trading Plan – Used or abused??

SEBI - The concept of trading plan was introduced in India by the SEBI (Prohibition of Insider Trading) Regulations, 2015 (The PIT Regulations). Every company has persons holding key managerial positions or promoters who are involved in decision making and are perpetually in possession of Unpublished Price Sensitive Information (UPSI). ...

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SEBI amends Buyback Regulations: Aligning and re-framing requirements with other laws

SEBI - Buyback period’ means the period between the date of board of directors resolution or date of declaration of results of the postal ballot for special resolution, as the case may be, to authorize buyback of shares of the company and the date on which the payment of consideration to shareholders who have accepted the buyback offer is made...

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Proposed Amendment in Re-classification of Shareholders

SEBI - SEBI has issued SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 (SEBI LODR Regulations) on September 2, 2015 which was enforced with effect from December 1, 2015 other than regulation 31A and 23(4) which were effective from September 2, 2015....

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Actions as per amendment in SEBI (LODR) Regulations 2015 (Part I)

SEBI - Background: SEBI formed a committee on corporate governance in June 2017 under the Chairmanship of Mr. Uday Kotak with a view to enhancing the standards of corporate governance of listed entities in India. The committee comprised of stalwarts from diverse fields viz. the government, industry, professional bodies, stock exchanges, academic...

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SEBI HLC Report on Settlement Mechanism

SEBI - SEBI seeks public comments on the ‘Report on the Settlement Mechanism’ submitted by the High Level Committee (HLC) under the Chairmanship of Justice A. R. Dave (retd.)...

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PAN Sole identifier for all participants transacting in securities market

SEBI - Securities and Exchange Board of India (SEBI), vide circular dated April 27, 2007, has mandated that PAN would be the sole identification number for all participants transacting in the securities market, irrespective of the amount of transaction....

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Empanelment of CA Firms as forensic auditors with SEBI

SEBI - SEBI invites applications of eligible CA firms / companies for empanelment to take up assignments relating to forensic audit of financial statements of listed companies....

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Framework for Enhanced Market Borrowings by large Corporates

SEBI - 1.1. Government of India in the Union Budget of 2018-19, made the following announcement: “SEBI will also consider mandating, beginning with large Corporates, to meet about one-fourth of their financing needs from the debt market.” 1.2. A series of steps have been taken, over time, by Government in consultation with Regulators, ...

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Draft framework for participation of foreign entities in Indian commodity derivatives market’

SEBI - Consultation paper on draft framework for participation of foreign entities, having actual exposure to Indian commodity markets, in the commodity derivatives market ...

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SC ask IBC and SEBI to join Process in ‘Ponzi scheme’ matter

Anant Kajare Vs. Eknath Aher & Anr.(Supreme Court) - Anant Kajare Vs. Eknath Aher & Anr. (Supreme Court) Battery of lawyers appeared in the high profile alleged ‘Ponzi scheme’ matter. This matter has been travelling to Supreme Court time and again. Previously, SEBI held that the scheme run by Citrus Check inn Limited and Royal Twinkle Star Clu...

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SEBI bars ‘Reliance Industries’ from accessing equity market

Re. Reliance Petroleum Ltd. (RPL) (SEBI) - Going by the facts narrated by Noticee No. 1, liquidation of 5 % stake was decided. The same had to be done in an orderly manner. There was no outer time fixed for liquidation. Being guided by the analysts reports and the price trends of the scrip, Noticee No. 1 decided to start the sale in November...

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Liability of Directors for Events Taken Place Before Appointment- SAT Ruling

Mr. Nimain Charan Biswal (Securities And Exchange Board Of India) - In one of the recent rulings of the SAT, Mumbai, the interim order passed by SEBI in the matter of Neesa Technologies Limited(Company) has been quashed qua one of the directors i.e. Mr. Nimain Charan Biswal who had joined and resigned from the directorship of the Company before the issuance of Non-c...

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Facebook friends may be treated as connected for Insider Trading

In the matter of trading in the shares of Palred Technologies Limited (Securities and Exchange Board of India) - In this case observed that having mutual friends on Facebook will form the basis of determination and to establish connection between the parties who have committed Insider Trading in Violation of SEBI (Prohibition of Insider Trading) Regulations, 2015. ...

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SEBI orders attachment of properties owned by Sahara India Red Estate & its directors

I further direct the attachment of all movable and immovable properties standing in the names of Shri Subrata Roy Sahara, Ms Vandana Bhargava, Shri Ravi Shanker Dubey and Shri Ashok Roy Choudhary with immediate effect. These individuals are directed to furnish details of all movable and immovable p...

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SEBI Circular on adjustment in strike price on declaration of dividend

Circular No. CIR/MRD/DoP-1/P/00108/2018 - (05/07/2018) - Based on the recommendations of SMAC, it has been decided to review the mechanism of dividend adjustment for stock options. The adjustment in strike price shall be carried out in the following cases of declaration of dividends...

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SEBI proposes to amend takeover, buyback & Capital Disclosure Norms

PR No. 20/2018 - (21/06/2018) - The Board has approved certain amendments to SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. As part of the amendments, it has been decided to grant additional time for upward revision of open offer price till one working day before the commencement of the tendering period....

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SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2018

No. SEBI/LAD-NRO/GN/2018/10 - (09/05/2018) - 1. These regulations may be called the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2018. 2. Save as otherwise specifically provided for in these regulations, they shall come into force with effect from April 1, 2019....

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Strengthening Guidelines & Raising Industry standards for RTA, Issuer Companies & Banker to an Issue

Circular No. SEBI/HO/MIRSD/DOP1/CIR/P/2018/73 - (20/04/2018) - These guidelines cover the following broad areas: i. Provisions with respect to Payment of Dividend/interest/redemption/ redemption ii. Provisions with respect to Transfer/Transmission/ Correction of errors etc. iii. Compulsory internal audit of RTAs...

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Monitoring of Foreign Investment limits in listed Indian companies

IMD/FPIC/CIR/P/2018/61 - (05/04/2018) - As per FEMA, the onus of compliance with the various foreign investment limits rests on the Indian company. In order to facilitate the listed Indian companies to ensure compliance with the various foreign investment limits, SEBI in consultation with RBI has decided to put in place a new system for m...

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Recent Posts in "SEBI"

Board interlock restrictions shall apply to existing IDs too

Sundaram Finance (applicant company) on 28th August, 2018 requested SEBI to issue informal guidance for getting clarity/better understanding of the wording use in new Regulation 17 (1A) and Regulation 25 (1) both of which use the word 'continue' which is absent in Reg.16(1)(b)(viii)....

Read More
Posted Under: CA, CS, CMA |

Effectiveness of Trading Plan – Used or abused??

The concept of trading plan was introduced in India by the SEBI (Prohibition of Insider Trading) Regulations, 2015 (The PIT Regulations). Every company has persons holding key managerial positions or promoters who are involved in decision making and are perpetually in possession of Unpublished Price Sensitive Information (UPSI). ...

Read More
Posted Under: CA, CS, CMA |

SEBI amends Buyback Regulations: Aligning and re-framing requirements with other laws

Buyback period’ means the period between the date of board of directors resolution or date of declaration of results of the postal ballot for special resolution, as the case may be, to authorize buyback of shares of the company and the date on which the payment of consideration to shareholders who have accepted the buyback offer is made...

Read More
Posted Under: CA, CS, CMA |

Proposed Amendment in Re-classification of Shareholders

SEBI has issued SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 (SEBI LODR Regulations) on September 2, 2015 which was enforced with effect from December 1, 2015 other than regulation 31A and 23(4) which were effective from September 2, 2015....

Read More
Posted Under: CA, CS, CMA |

Actions as per amendment in SEBI (LODR) Regulations 2015 (Part I)

Background: SEBI formed a committee on corporate governance in June 2017 under the Chairmanship of Mr. Uday Kotak with a view to enhancing the standards of corporate governance of listed entities in India. The committee comprised of stalwarts from diverse fields viz. the government, industry, professional bodies, stock exchanges, academic...

Read More
Posted Under: CA, CS, CMA |

CA- In The Line of Regulators Fire

CA’s are in a position where all are aiming their gun towards them. If CAs moves into their line of fire, they move into a position between them and the thing they were aiming at. The circumstances are not the same as of five years back....

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Posted Under: CA, CS, CMA |

Core Investment Company

 This Concept was originated in order to safeguard NBFCs which are formed for group investments from stringent RBI procedures. Core Investment Companies, (CIC) are those companies which have their assets predominantly as investments in shares for holding stake in group companies but not for trading, and also do not carry on any other fin...

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Posted Under: CA, CS, CMA |

SEBI HLC Report on Settlement Mechanism

SEBI seeks public comments on the ‘Report on the Settlement Mechanism’ submitted by the High Level Committee (HLC) under the Chairmanship of Justice A. R. Dave (retd.)...

Read More
Posted Under: CA, CS, CMA |

PAN Sole identifier for all participants transacting in securities market

Securities and Exchange Board of India (SEBI), vide circular dated April 27, 2007, has mandated that PAN would be the sole identification number for all participants transacting in the securities market, irrespective of the amount of transaction....

Read More
Posted Under: CA, CS, CMA |

Green Shoe Option : A Protective Tool For Companies coming up with an IPO

1. The Green Shoe Option (GSO), also known as Over Allotment option allows companies to intervene in the market to stabilise share prices during the 30-day stabilization period immediately after listing. This involves purchase of equity shares from the market by the company-appointed agent in case the shares fall below issue price. 2. The...

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Posted Under: CA, CS, CMA |

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